Key Capital - IMAP Ireland is pleased to announce that Virginia International Logistics (“Virginia”), a leading transport and logistics business in Ireland, has agreed on a significant investment from MML Growth Capital Partners Ireland (“MML Ireland”) .
Virginia was established in County Cavan, Ireland in 1982. Over the last 40 years, the family owners have led the expansion of the business which today focuses on international logistics across Ireland, the UK, and Europe. The company services many sectors with a particular focus on Food & Beverage, Industrial, Manufacturing, and Pharmaceutical products. It operates a fleet of over 130 trucks and 400 trailers in conjunction with a 50,000 square foot facility in Kells, offering storage for chilled and dry goods. It also has additional transport hub facilities in Ballycoolin, Dublin and Tamworth in the UK, and offers customs clearance, freight forwarding, and temperature-controlled services. Virginia currently employs c.200 people and in 2022, expects revenues in excess of c.€40 million.
MML Ireland is a provider of growth capital to private businesses in Ireland for expansions, acquisitions, recapitalisations, and shareholder reorganisations. Stephen Minogue, Investment Director at MML Ireland, commented: “We are very happy to be partnering with Ray and the wider Virginia team. The business has developed a strong reputation in an evolving and growing market, and we are very excited about the plans to scale the business into the future.”
Ray Cole, Managing Director of Virginia, added: “We are delighted to have agreed on this investment and to partner with MML Ireland through the next phase of Virginia’s journey. Given international delivery trends, the Logistics sector continues to expand in terms of expertise and capacity, which creates market opportunities for well positioned and invested businesses. I look forward to working with MML Ireland on our expansion plans. We are all ambitious for the company and intend to grow both organically and by acquisition. With its experience of working with dynamic scaling businesses, MML Ireland is the perfect partner for the next stage of our journey.”
Key Capital – IMAP Ireland has deep knowledge of the Irish market across many sectors. This transaction highlights how this knowledge can be leveraged to bring founders and providers of capital together to support future growth. The Key Capital team advised and supported the shareholders throughout the process. IMAP Netherlands also contributed to the process by providing assistance on potential Dutch logistics targets.
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